For a select few, the clock can't signal the start of 2013 soon enough. Whether it was a scandal, bad business, or terrible decision-making, the following list is filled with those that won't be sorry to leave 2012 in the rear-view mirror.
Up until late 2012, not only could Lance Armstrong be considered one of the greatest athletes in U.S. history, he was one of the biggest names raising money and awareness for victimsof cancer. Over the course of a decade, many claimed that Armstrong had cheated his way to his seven Tour De France titles, a charge he repeatedly denied, pointing to a long list of passed drug tests.
That all vanished in October, when the U.S. Anti Doping Agency released a 1,000 page report detailing a vast and sophisticated blood doping scheme that allowed Armstrong to dominate his sport over the course of nearly a decade.
Armstrong was subsequently stripped of his titles, banned from competitive cycling, released from his multiple endorsement deals, and forced to step down as chairman of his charitable organization.
If the nation's financial system has been performing a high-wire act over the course of the past few years, Jamie Dimon was the guy who came perilously close to slipping off the rope.
In May, the CEO of JPMorganChase revealed to the public that his bank lost nearly $2 billion, mainly due to the actions of a rogue trader that bet big on credit default swaps, a strategy that was supposed to "hedge" risk, but instead inflated it.
Shortly after the bad trades were revealed, Dimon owned up to his bank's massive error, calling the trades, "flawed, complex, poorly reviewed, and poorly executed." It may have been a smart PR move, but it didn't stop the bleeding: revised estimates in July estimated JPMorgan's loss to be nearly $6 billion.
If things weren't bad enough, Dimon's bank was then slapped with subpoenas from four different countries in August, stemming from the investigations into the global manipulation of the LIBOR rates, a scandal that is considered to be among the biggest in banking history.
PENN STATE UNIVERSITY
The wounds of 2011 were exacerbated over the course of 2012 for Penn State University, which saw the punitive fallout of the Jerry Sandusky abuse scandal play out over the course of the year.
The year started out on a somber note, with longtime football coach Joe Paterno passing away from lung cancer in January. Paterno, who had been let go after the abuse allegations came to light in Nov. 2011, was further disgraced when an independent report led by former FBI Director Louis Freeh found that Paterno, along with a number of high-ranking Penn State officials, showed "total disregard" for Sandusky's victims over the course of nearly 15 years.